Can I retire at age 58 with 955,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $955,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.6%
1 years$78,863$78,161$77,475$76,806$76,153$73,510
2 years$39,041$38,314$37,609$36,926$36,263$33,627
3 years$25,769$25,039$24,336$23,659$23,007$20,461
4 years$19,134$18,406$17,710$17,045$16,409$13,973
5 years$15,154$14,431$13,744$13,092$12,474$10,154
6 years$12,502$11,784$11,107$10,470$9,870$7,669
7 years$10,608$9,896$9,230$8,608$8,027$5,943
8 years$9,188$8,483$7,828$7,221$6,659$4,691
9 years$8,085$7,386$6,742$6,151$5,608$3,754
10 years$7,202$6,510$5,878$5,302$4,778$3,034
11 years$6,481$5,796$5,175$4,614$4,109$2,472
12 years$5,880$5,202$4,592$4,047$3,561$2,027
13 years$5,372$4,701$4,103$3,573$3,105$1,670
14 years$4,937$4,273$3,687$3,172$2,722$1,382
15 years$4,560$3,903$3,329$2,829$2,397$1,147
16 years$4,231$3,581$3,018$2,533$2,118$955
17 years$3,941$3,298$2,746$2,276$1,878$796
18 years$3,683$3,048$2,507$2,051$1,670$665
19 years$3,453$2,825$2,295$1,853$1,489$557
20 years$3,246$2,625$2,106$1,678$1,330$466
21 years$3,059$2,445$1,937$1,523$1,190$391
22 years$2,889$2,282$1,785$1,385$1,067$328
23 years$2,734$2,134$1,649$1,261$957$276
24 years$2,592$2,000$1,525$1,150$861$232
25 years$2,462$1,877$1,412$1,051$774$195
26 years$2,342$1,764$1,310$961$697$164
27 years$2,231$1,660$1,216$879$629$138
28 years$2,128$1,564$1,131$806$567$116
29 years$2,033$1,476$1,052$739$512$98
30 years$1,944$1,394$980$678$463$82
31 years$1,861$1,317$914$623$419$69
32 years$1,783$1,247$852$572$379$58
33 years$1,710$1,181$796$526$343$49
34 years$1,642$1,119$744$484$310$42
35 years$1,577$1,061$695$446$281$35
36 years$1,517$1,007$650$411$255$29
37 years$1,460$957$609$378$231$25
38 years$1,405$909$570$349$209$21
39 years$1,354$865$534$321$190$18
40 years$1,306$823$501$296$172$15
41 years$1,260$783$469$274$156$13
42 years$1,216$746$440$252$142$11
43 years$1,174$710$413$233$129$9
44 years$1,135$677$388$215$117$8
45 years$1,097$646$364$199$106$6
46 years$1,061$616$342$184$96$5
47 years$1,027$588$321$170$87$5
48 years$994$561$302$157$79$4
49 years$962$536$284$145$72$3
50 years$932$512$267$134$65$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $955,000, adding $6,783 every year, while hoping to spend $38,390 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 64/25/11 Blend
57$955,000$955,000$955,000$955,000
58$1,059,407$1,008,792$993,989$1,124,167
59$1,126,619$1,017,376$986,441$1,176,850
60$1,199,401$1,025,094$977,354$1,229,277
61$1,278,280$1,031,863$966,634$1,285,573
62$1,363,835$1,037,595$954,187$1,346,112
63$1,456,704$1,042,195$939,911$1,411,309
64$1,557,590$1,045,564$923,699$1,481,621
65$1,667,263$1,047,596$905,443$1,557,551
66$1,786,573$1,048,178$885,024$1,639,655
67$1,916,455$1,047,189$862,323$1,728,547
68$2,057,935$1,044,503$837,213$1,824,905
69$2,212,145$1,039,985$809,560$1,929,476
70$2,380,330$1,033,490$779,227$2,043,084
71$2,563,860$1,024,868$746,068$2,166,641
72$2,764,244$1,013,956$709,931$2,301,149
73$2,983,140$1,000,584$670,657$2,447,717
74$3,222,379$984,571$628,082$2,607,569
75$3,483,970$965,724$582,032$2,782,053
76$3,770,131$943,840$532,326$2,972,658
77$4,083,300$918,703$478,774$3,181,027
78$4,426,163$890,087$421,180$3,408,972
79$4,801,680$857,749$359,337$3,658,493
80$5,213,106$821,434$293,030$3,931,797
81$5,664,030$780,871$222,034$4,231,316
82$6,158,403$735,776$146,114$4,559,737
83$6,700,576$685,845$65,025$4,920,021
84$7,295,342$630,758$0$5,315,436
85$7,947,981$570,179$0$5,752,111
86$8,664,307$503,750$0$6,239,806
87$9,450,725$431,093$0$6,775,301
88$10,314,292$351,809$0$7,363,466
89$11,262,780$265,478$0$8,009,672
90$12,304,751$171,654$0$8,719,842
91$13,449,638$69,867$0$9,500,505
92$14,707,832$0$0$10,358,860
93$16,090,782$0$0$11,313,951
94$17,611,099$0$0$12,385,112
95$19,282,679$0$0$13,562,921
96$21,120,830$0$0$14,858,174
97$23,142,419$0$0$16,282,765
98$25,366,029$0$0$17,849,801
99$27,812,134$0$0$19,573,719
100$30,503,294$0$0$21,470,429